Mr. Luke Alexander reports

NEWCORE GOLD ANNOUNCES PROCEEDS OF $10.3 MILLION FROM WARRANT EXERCISES

Newcore Gold Ltd. has received total proceeds of approximately $10.3-million from the exercise of 20,548,000 common share purchase warrants of the company, which expired on Feb. 27, 2026. The warrants had an exercise price of 50 cents and were originally issued on Feb. 27, 2025, following the completion of a private placement financing.

Luke Alexander, president and chief executive officer of Newcore, stated: "We would like to thank our shareholders for their continued support and confidence in the company, demonstrated through the exercise of the warrants. Management and the board of directors remain strongly aligned with shareholders, collectively holding approximately 13-per-cent equity ownership. The proceeds from the warrant exercises, together with our existing cash on hand, position Newcore to continue advancing and derisking our Enchi gold project toward completion of a prefeasibility study by the end of June, 2026. In parallel, our ongoing 45,000-metre drill program is focused on exploration drilling to depth, further delineating the larger resource potential of the project. With the additional capital from the warrants, we will evaluate opportunities to expand the scope of our drill program and carry out additional technical work to continue to advance and derisk the technical merits of the project. We look forward to a transformational year as we continue to advance and unlock the district-scale potential of our Enchi gold project in Ghana."

Following the exercise and expiry of the warrants, the company's share capital consists of 284,385,640 common shares issued, nine million stock options, and 6,742,665 restricted share units and performance share units.

About Newcore Gold Ltd.

Newcore Gold is advancing its Enchi gold project, located in Ghana, Africa's largest gold producer. Newcore Gold offers investors a unique combination of top-tier leaders, who are aligned with shareholders through their 13-per-cent equity ownership, and prime district-scale exploration opportunities. Enchi's 248-square-kilometre land package covers 40 kilometres of Ghana's prolific Bibiani shear zone, a gold belt that hosts several multimillion-ounce gold deposits, including the Chirano mine 50 kilometres to the north. Newcore's vision is to build a responsive, creative and powerful gold enterprise that maximizes returns for shareholders.

We seek Safe Harbor.